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Just like what I said when Jia Yueting went to the United States to build a car: “Even if it’s a dream, don’t wake him up.” On Xu Jiayin’s body, it might be changed to: “Even if it’s a PPT, don’t laugh at him. “
What if mass production?
When Evergrande President Xia Haijun said, “We have the determination and confidence to build Evergrande Automobile into the world’s largest and most powerful new energy vehicle group. Then we can see our PPT for the creation of automobiles.” At that time, I believe many people can’t help but laugh.
As of now, Evergrande has not mass-produced a car, mainly through PPT to show the public. Therefore, the outside world ridiculed Evergrande as “PPT making cars” just as they ridiculed Jia Yueting.
Xia Haijun showed us the PPT, screenshot: Evergrande’s financial report
Even the Xinhua News Agency can’t stand it anymore. A few days ago, it criticized Evergrande Motors (00708.HK) as a “PPT car company” and “manufacturing cars” on paper, saying that “the company has a market value of several thousand before selling a car. Billion”.
The Xinhua News Agency’s blast made Evergrande Motor’s fall to 15% on Monday. However, Evergrande’s share price has rebounded in the past two days. As of the close of trading on the 31st, its market value is still as high as 554.1 billion Hong Kong dollars. It is 2.8 times the market value of its parent company, China Evergrande (03333.HK), which currently has a market value of 196 billion Hong Kong dollars.
It is precisely with these previous facts that the announcement of Evergrande’s 2020 results on March 31 was particularly noticeable. People are curious about how Xu Jiayin responds to outside suspicions.
On the afternoon of March 31, China Evergrande (03333.HK) released its 2020 performance report. The report shows that Evergrande’s 2020 turnover is 507.25 billion yuan, a year-on-year increase of 6.2%; Gross profit margin is 122.6 million yuan, gross profit margin is 24.2%, net profit is 31.4 billion yuan, core business profit is 30.13 billion yuan, contracted sales amount is 723.2 billion yuan, a year-on-year increase of 20%, and contracted sales area is 80.86 million square meters, a year-on-year increase of 38% ; Receipts of 653.2 billion yuan, the sales collection rate reached 90%, an increase of 12 percentage points year-on-year; total liabilities were 1,950.7 billion yuan, an increase of 5.5% year-on-year.
Key data of Evergrande’s financial report, screenshot: Evergrande’s financial report
This financial report is not ugly. It can be seen that Evergrande has been working hard to meet the “three red lines” indicators in the past year.
The financial report shows that from the end of March last year to the end of March this year, Evergrande’s interest-bearing liabilities fell by 200 billion yuan, from 874.3 billion to 674.4 billion. Evergrande also gave a timetable for debt reduction: June 30, 2021, to less than 590 billion; June 30, 2022, to less than 450 billion; June 30, 2023, to less than 350 billion.
At present, Evergrande, which has three red lines and all red lines, has also given a downgrade timetable from red to green: On June 30, 2021, the net debt ratio will drop below 100%. According to the financial report, as of December 2020 On 31st, its debt ratio was 152%; on December 31, 2021, the cash short-term debt ratio reached more than 1; on December 31, 2022, the debt-to-asset ratio fell below 70%.
There were 387,000 brokers and 43,000 stores. “We expect that in 2011 this year’s transaction volume will exceed 2 trillion, achieving the goal of serving hundreds of millions of users.”
Compared with real estate, people obviously care more about when Evergrande will be built. Xu Jiayin said: “One car or two cars cannot achieve Evergrande’s grand goal. Evergrande Motor’s grand goal is actually in terms of new energy vehicles. We are positioned according to the world’s leading enterprises.”
According to his original words: “Either don’t do it, or do the best. This is a style of Evergrande.”
In order to convince the outside world that Evergrande is not making cars with PPT, like the beginning of all movie stories, Xu Jiayin talked about the origin of Evergrande making cars.
Hengda Automobile is one of the major industries that Evergrande has transferred more than 2,000 people to the market five years ago-such as photovoltaics, petroleum, steel, new energy vehicles, etc.-after doing a lot of social research. project. “We believe that new energy vehicles are environmentally friendly, a big industry that people all over the world yearn for in the future, and an industry with very good prospects. It is a revolution in the history of the world’s automobile. It is an industry supported by our country’s development strategy. The industry that serves the common people is also an industry that matches the scale of Evergrande Group.” Xu Jiayin said, in this regard, Evergrande decided to enter new energy vehicles and renamed Evergrande Health last year to Evergrande Automobile.
Xu Jiayin made so much foreshadowing to lead to the next sentence: “What do I mean by this? Evergrande’s diversified industry today does not mean that it suddenly emerged from the sky. The eight major industries that have been continuously created in the past year.”
“When Evergrande decided to enter the field of new energy vehicles, our first thing was to set a goal. What is the goal? To achieve an annual output of 1 million vehicles by 2025 and 5 million vehicles by 2030 “When Xu Jiayin said this, I didn’t know if you believed it, anyway, I didn’t dare to believe it too much.
According to the recently announced 2020 annual results report, 98.79% of Evergrande’s revenue comes from medical beauty and health management income, and only 1.21% of its revenue comes from new energy vehicles. The key is that there is no car volume yet. Produce.
Xu Jiayin said that Evergrande didn’t know anything about the auto industry before. It had no foundation at all. It had no people, no technology, no base, and basically started from zero.
So how did Evergrande build this car?
Xu Jiayin said: “Our basic philosophy is that all aspects of the world’s automotive industry are used by us.. do you understand? The idea that global resources are used by us. Through these three years, the team building of Evergrande Automobile Group has been very good. Now we have more than 8,700 people. The number of scientific researchers in our research institute, including those in our production base, is 3,500. “
“Hengda Automobile has released 9 cars to the public, and we have developed 14 cars at the same time.” Why are there so many cars developed at the same time? Because for Xu Jiayin, who pursues the largest and most donations in everything, and even the poverty alleviation has to pursue the most donations, it is not enough to build a car a year. “It does not match the scale of Evergrande’s annual sales of 600 to 700 billion “.
He revealed that a lot of testing has been done on several cars that have already been released. He mentioned the last winter test in Inner Mongolia, “This is all to be built, and that is all from our production line for testing.”
At this point, Xu Jiayin became more confident: “We will start trial production in the fourth quarter at the end of this year and a large number of deliveries next year. This is our entire plan.”
Hengda Automobile is finally going to step down on the PPT.
Is it?